Handicrafts Exporters Have High Hopes From 2014

By Expert Author: Onlineshoppee

This week while tracking the growth of Indian handicraft industry, I came across two important news stories and one interesting phrase. The first story highlighted that the handicraft industry over exceeded its annual target and is now among the quickest sectors to move out of recession.
The target of 990 million dollars was surpassed convincingly as this year's handicrafts exports turnover was around 1024 million dollars. Quite understandably, the government of India, too has revised the handicrafts export target upwards for the current fiscal. The second story which caught my attention was that the Indian government is all set to provide more incentives to some of the "not to strong" sectors including the handicrafts industry. Even though the handicraft sector did achieve its target, it still remains one of the most fragile sectors wherein the growth is not comprehensive or stable. Sources say, the measures will be announced in the mid of January. An industry-wide performance analysis done by the Government of India has revealed that labour intensive sectors such as apparel and handicrafts, need additional measures for growth consolidation before they could become self sustainable in the long run. All this drives across one point that the current Indian government is quite serious about the issues of small to mid level industries and is taking up aggressive measures to address their concerns. As of now, the value of Indian handicraft exports is not very significant, however, it still remains one of the big source of employment. The US continues to remain the largest market for Indian handicraft exporters, followed by the UK. The US and EU together account for 70 per cent of the total handicrafts exports from India. The Indian handicrafts exports were hit hard due to the global economic slowdown. Almost after 11 months of gloom, exports turned positive from September 2012. In all fairness, we can say that, by the end of 2013 the handicraft industry is poised for some serious growth and position itself as an important player in the world market. At the start of this blog I also talked about an interesting phrase; here it is 'Hammocks to Switzerland, pottery to Greece'. This seems to be the new mantra adopted by Indian handicrafts exporters, which loosely means exporting Indian crafts to newer destinations. There is something about the end of December that gives everyone a ray of hope that the next year may change their fortune for good. With all the measures that have been announced or are yet to be announced, handicrafts exporters expect better and more profitable 2014. PS: handicrafts exporters get your online catalog today and make profits by tapping the business queries being generated across the globe on the web 24/7. To know more, click on Onlineshoppee.in manufacturers